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8115 S Figueroa St, Los Angeles, CA 90003
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8115 S Figueroa St Los Angeles, CA 90003

$899,000
  • 8 Beds
  • 6 Baths
  • 2,248 Sq.Ft.
For Sale
$899,000 Get Pre-Qualified
Map preview of 8115 S Figueroa St, Los Angeles, CA 90003

Property Overview: 8115 S Figueroa St Los Angeles, CA has 8 bedrooms, 6 bathrooms, 2,248 living square feet and 6,501 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Fantastic development opportunity. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. Continue to rent out the property or develop this 6501 Sq Ft lot. Zoned LAC2 , this TOC Tier 1. With a FAR of 2.75 the total buildable area can be 17,877 sq. ft. Buyer to Verify with city planning for accuracy of all information. Property consists of one building with 6 separate units. Units 2,3,4,5 and 6 are studios. Unit 1 is a 2 bedroom / 1 bath and it was modified to a 3 bedroom / 1 bath without permits which is now rented on Airbnb 30day+ . The other 5 units are rented out on a month to month basis.

Listed by Shamim Khorsand Mashhadi | BRE #02042990 | RE/MAX ESTATE PROPERTIES
Last checked: 11 minutes ago | Last updated: September 11th, 2024 | Source CRMLS | DOM: 103

Home details

Lot Sq. Ft
6,501
HOA Dues
$0/mo
Year built
1950
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24404581
City
Los Angeles
County
Los Angeles
Time on Site
102 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 5
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $800
  • Total Rent: $800
  • Pro Forma/Market Rent: $800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13
  • Gross Scheduled Income: --
  • Net Operating Income: $52,200
  • Gross Operating Income: $73,200
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 8115 S Figueroa St

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Property Details for 8115 S Figueroa St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: One
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Driveway
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 6032024006
  • Property Condition: Additions/Alterations
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 110 N. to Manchester, Left on Manchester and Right on Figueroa.
View more facts & features

Local Los Angeles Agent

Sale History for 8115 S Figueroa St

Last sold for $785,000 on February 7th, 2023

  • June, 2024

  • Jun 16, 2024

    Date

    Active

    CRMLS: 24404581

    $975,000

    Price

  • February, 2023

  • Feb 7, 2023

    Date

    Sold

    CRMLS: IG22254952

    $785,000

    Price

  • Dec 13, 2022

    Date

    Active

    CRMLS: IG22254952

    $815,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent opportunity to purchase a 6 unit building at 135k per door. There are five singles and one two bedroom one bath. Large lot with plenty of parking spaces. Separately metered for gas and electricity. The two bedroom unit was recently renovated. The majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase the cash flow.

  • December, 2022

  • Dec 8, 2022

    Date

    Canceled

    CRMLS: IG22195670

    $830,000

    Price

  • Sep 8, 2022

    Date

    Active

    CRMLS: IG22195670

    $1,000,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent opportunity to purchase a 6 unit building at 138k per door. There are five singles and one two bedroom one bath. Large lot with plenty of parking spaces. Separately metered for gas and electricity. The two bedroom unit was recently renovated. The majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase the cash flow.

  • March, 2020

  • Mar 24, 2020

    Date

    Expired

    CRMLS: 19530476

    $800,000

    Price

  • Dec 4, 2019

    Date

    Withdrawn

    CRMLS: 19530476

    $800,000

    Price

  • Nov 15, 2019

    Date

    Active

    CRMLS: 19530476

    $800,000

    Price

  • Listing provided courtesy of CRMLS

    The Subject property is a part of a six-property portfolio, which is a true value-add investment opportunity located throughout Los Angeles totaling 42 units; the properties are located among the Koreatown, South Park, and South Los Angeles neighborhoods. The subject properties present an impressive unit mix throughout consisting of 19 singles, 21 one-bedrooms and 2two-bedrooms; the majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase cash flow dramatically through renovations. The portfolio is being offered at a low price per unit of $141,905 blended; significant loss-to-lease of over 42%. With current rents below market and the majority of the subject properties being just 4-6 units, unit turnover and the achievement of market rents over time will dramatically increase the income and value of each property on an individual basis.* Subject property can be purchased individually or collectively

  • August, 2017

  • Aug 20, 2017

    Date

    Sold

    CRMLS: 17241286

    $599,000

    Price

  • Aug 7, 2017

    Date

    Pending

    CRMLS: 17241286

    $599,000

    Price

  • Jun 25, 2017

    Date

    Active

    CRMLS: 17241286

    $599,000

    Price

  • Listing provided courtesy of CRMLS

    CLEAN 6PLEX BUILT IN 1950. A 1 BED + 5 SINGLES. NEW ROOF,ALL NEW COPPER PLUMBING TILE FLOORING, SEPARATE GAS & ELECTRIC METERS, 9 CAR GATED PARKING, 50 X 130 LOT. Call the agent for more info.

  • August, 2017

  • Aug 18, 2017

    Date

    Sold (Public Records)

    Public Records

    $599,000

    Price

  • May, 2011

  • May 31, 2011

    Date

    Sold (Public Records)

    Public Records

    $265,000

    Price

Show More

Tax History for 8115 S Figueroa St

Assessed Value (2020): $623,799
Year Land Value Improved Value Assessed Value
2020 $467,139 $156,660 $623,799

Home Value Compared to the Market

This property vs the competition

8115 S Figueroa St is listed 25.08% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $771 and this home is listed at $399.91 per/sqft which puts the price per square foot 48.13% lower than the median price per square foot for the city of Los Angeles.

About 8115 S Figueroa St

Detailed summary of property

8115 S Figueroa St is a multi family located in Los Angeles, CA 90003 and is currently for sale. This multi family property offers 8 bedrooms, 6 bathrooms, roughly 2,248 living square feet, and sits on an approximately 6,501 square foot lot. 8115 S Figueroa St was first listed on ArdentRealEstateGroup.com on June 17, 2024. The homeowner is currently asking $899,000 and was originally asking $975,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 25.08% lower than the median priced home. Local competing homes currently for sale include 8870 S Figueroa St, 126 E 82nd and 7011 Bonsallo Ave. While the average home in Los Angeles, CA is selling in 106 days, 8115 S Figueroa St has a days on market of 103 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 8115 S Figueroa St Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 8115 S Figueroa St

Public county record property details
Beds
1
Baths
6
Year built
1950
Sq. Ft.
2,248
Lot Size
6,500
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
161
APN
6032-024-006

The source for these homes facts are from public records.

90003 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$599,000
Median List Price/Sq.Ft.
$562
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$535
Total Inventory
49
Median Sale to List Price %
103%
Avg Days on Market
31
Loan Type
Conventional (41.67%), FHA (16.67%), VA (0%), Cash (16.67%), Other (25%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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